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Verizon Renews 57,000 SF at Corridors Park

DOWNERS GROVE, IL-Developer Alter Group has also finished designs for the fourth building in the park, which could reach a total price tag of up to $500 million.

By Gina Kenny | Updated on December 05, 2007

DOWNERS GROVE, IL-Verizon Business Services LLC has renewed its lease at 2655 Warrenville Rd., or Corridors Two, at the Corridors–Chicago business park. The lease is for 56,757 sf of office space. The term of the lease is “long term,” says Matthew Ward, SVP for the Alter Group.

Alter, headquartered in Skokie, is the developer the 115-acre business park. The estimated cost for the business park, when completed, is between $400 million and $500 million, Ward tells GlobeSt.com.

Verizon has leased space in Corridors Two for a regional office since 1999. The space was originally leased by WorldCom, which was acquired by MCI and was subsequently acquired by Verizon, he says. Ward and Bryan Farquhar, also with Alter, represented the firm in the lease transaction. David Justh and Kevin Rogers, both with CB Richard Ellis, represented Verizon. The building, as well as the other buildings in the park, has fully redundant fiber optics and back-up power. The buildings also have large efficient floor plates, Ward says. The building at 2655 Warrenville Rd. is 90% leased and has been at least 90% leased since it was constructed in 1999, he says.

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